Under the wave of continuous innovation and development in the payment industry, the digital currency payment sector welcomes new breakthroughs. Recently, payment giant Visa announced a partnership with stablecoin infrastructure provider Bridge to launch a stablecoin-backed card in Latin America. This collaboration allows developers to issue stablecoin Visa cards to users through Bridge, enabling cardholders to use their stablecoin balances for daily transactions at over 150 million merchants worldwide that accept Visa.

Bridge is responsible for the backend operations of the transactions. When users make purchases with the card, it deducts the corresponding amount from the user's stablecoin balance and converts it into local fiat currency for payment to the merchant. This service will first be launched in Argentina, Colombia, Ecuador, Mexico, Peru, and Chile, with plans to expand to Europe, Africa, and Asia in the future.

Not long ago, Mastercard integrated stablecoin payments globally through partnerships with Circle, Paxos, and Nuvei. Mastercard leverages blockchain technology to enable merchants to accept stablecoin payments such as USDC, PayPal USD (PYUSD), and Global Dollar (US DG) for faster, lower-cost cross-border transactions, simplifying transaction processes and enhancing liquidity.

Visa's collaboration with Bridge closely follows Mastercard's actions, indicating that the payment industry is accelerating the acceptance of stablecoin payments. Stablecoins, as a type of digital currency pegged to fiat currency with relatively stable prices, have previously been used for fund transfers in cryptocurrency trading but have been limited in daily consumption scenarios due to merchant acceptance issues. The moves by these two payment giants are expected to promote the widespread adoption of stablecoins in everyday payments, altering the traditional payment landscape, providing users with more diverse and convenient payment options, and injecting new momentum into the integration of digital currencies with the traditional financial system, making future developments worthy of attention.